Singapore Economic Resilience Taskforce announces targeted measures to support businesses and workers, including Business Adaptation Grant

29 July 2025

On 10 July 2025, the Ministry of Trade and Industry (“MTI”), Singapore Business Federation, National Trades Union Congress, and Singapore National Employers Federation jointly issued a press release detailing the progress made by the Singapore Economic Resilience Taskforce and outlining support measures aimed at helping businesses and workers manage the current uncertainty in the global economy.

Business Adaptation Grant

A new Business Adaptation Grant (“Grant”) will be launched by October 2025 to help eligible enterprises adapt to the new tariff environment for a timebound period of two years. The scope of the Grant will cover:

  • enterprises that export to and/or have operations in overseas markets, and are impacted by tariff measures, to conduct advisories on (i) free trade agreements and trade compliance; (ii) legal and contractual matters; and (iii) supply chain optimisation and market diversification.
  • enterprises with manufacturing operations, whether overseas or local, can also receive support for reconfiguration costs, such as logistics and inventory holding costs.

The Grant complements existing schemes, such as the Market Readiness Assistance Grant, Enterprise Development Grant, and the Enterprise Financing Scheme, which continue to support businesses in (i) entering new markets through overseas market promotion, set-up, and development; (ii) undertake business transformation and innovation activities; and (iii) access to financing to further support businesses’ growth needs.

Support for workers

The Government and the NTUC Employment and Employability Institute NTUC-e2i will expand access to career guidance services to help workers and jobseekers navigate the economic uncertainty. This builds on the newly launched Career Health SG movement, which aims to help Singaporeans build resilient, fulfilling careers.

The Government will also introduce temporary enhanced funding support for basic human resources (“HR”) certification for HR professionals to help employers better manage and support their workforce amid the volatile environment.

Reference materials

The following materials are available on the MTI website www.mti.gov.sg: